bm jorc - nearest to the pin, page-48

'What is important IMO is that IK finally gives the market a "FULL" release with the JORC that highlights where Mantle now go with their Joint Venture partner Exergen!!!
Unless he does that the JORC release will do nothing for the current share price IMO.'

you mean like this 5 July 2012 MNM ann?

http://www.mantlemining.com/files/announcements/6A594954.pdf

'Mantle Executes JVA with Exergen

Mantle Mining Corporation Limited (ASX: MNM) “Mantle”, is pleased to advise that a Joint Venture Agreement (JVA) and a Technology Licence Deed (TLD) have been executed with Exergen Pty Ltd:

Highlights:

The JVA provides for 50% ownership of exploration tenement EL 5294 to transfer to Exergen in exchange for a payment of 50% of Mantle’s prior costs in confirming a JORC Inferred Resource Base level, (which equates to a payment of $500,000), plus the TLD. Both agreements are binding on the parties.

Exergen will be fully responsible for the development of a demonstration project intended to confirm success of their patented Continuous Hydro-Thermal Dewatering (CHTD) technology at commercial scale.

The CHTD commercial scale demonstration is anticipated to be a $50million+ project which, under the terms of the JVA, is to be completed within a maximum 2-4 year timeframe at a location yet to be confirmed. Should these timeframes not be met then Mantle has certain buyback rights on the project tenement.

In parallel with the commercial scale CHTD demonstration by Exergen, Mantle and Exergen will share the costs of associated exploration on the tenements and pre- development activities on a 50/50 basis.

The TLD is a single licence for Mantle for use at the Bacchus Marsh deposit only. Mantle retains ownership of the TLD for the economic life of the deposit irrelevant of whether the JVA terminates. Both the $500,000 payment and the TLD will be escrowed until the 50% tenement ownership is transferred to Exergen by the relevant Government Department.

Exergen will assume management responsibility for the project once a JORC Inferred Resource base is announced. Mantle has recently completed a drilling program at Bacchus Marsh designed in accordance with the Principles and Guidelines of the JORC Code and expects to release a maiden JORC Inferred Resource Report within weeks.

The JVA includes mechanisms typical in standard Farm-in and JVA arrangements as relates decision making under mining proposals. Any such proposal will be dealt with under separate agreements to be developed in due course.'

It sounds pretty clear what happens post BM JORC to me dapper.

And exergen have already begun an international $100 million fund raising campaign to meet their obligations, which specifically refers to these matters.

http://www.rfcambrian.com/node/306